The newspaper wrote that Najib had been charged with one count of abuse of power, three counts of money laundering and three counts of criminal breach of trust (CBT). All of them involved money misappropriated from 1MDB subsidiary SRC International Sdn Bhd.
Najib faces up to 20 years in prison and a fine for the abuse of power charge; up to 15 years in prison and a fine for money laundering; and up to 20 years in prison, whipping and a fine for the CBT, it wrote.
Malaysia created the 1MDB fund in 2009 to promote the country’s economic growth through direct foreign investment and global partnerships. However, a number of officials, including the ex-prime minister, have since been suspected of embezzling around a total of $4.5 billion from the fund. The 1MDB embezzlement case is being investigated simultaneously in Malaysia, Singapore, the US, Switzerland and several other countries.
The 1MDB embezzlement scandal was one of the main reasons for the failure of the former prime minister’s party — the United Malays National Organisation — in the 2018 general elections.
Sputnik / Grigoriy Sisoev
South Africa Today – World News – Asia and Pacific